(a) Field of the Invention
The present invention relates to software and systems for receiving and processing source documents, e.g., completed or partially completed documents from a source, e.g., a client, such as a taxpayer, of a professional service provider, such as an accountant. More particularly, the invention relates to processes that transfer data from source or originating documents for use in calculations, bookkeeping functions, and preparing forms and documents, e.g., tax return and associated schedules and attachments.
(b) Background of the Invention
Computers and the software executed on them are increasingly useful and reliable tools in streamlining business processes, including those processes associated with professional service providers such as accountants, tax preparers and attorneys. The task of collecting, inputting and confirming client data, such as tax related date, is time-consuming and, while requiring great attention to detail, tedious. Also, data collected from one form may be used in other forms. Presently, data is largely independently input into the separate forms. While there is known OCR (optical character recognition) techniques and formats, including for example .pdf, what is needed is a system and method to recognize the data extracted using OCR techniques and associate the extracted data with particular entities, e.g., clients, and/or particular types or fields of information, for example fields or locations of a form, such as various tax related forms, e.g., W-2, 1098, 1099.
Providing a means for ensuring accuracy of source and derivative documents and data collected from source documents is a critical function to the effective and efficient delivery of services and work product. This is especially critical in connection with preparing important documents, such as financial documents for clients, by organizations such as professional services entities, like accounting and law professionals. Effective adherence to accounting safeguards to ensure the accuracy of data reported to tax authorities, such as the IRS, is a longstanding need. However, this need is balanced against the need to be efficient in performing tasks for clients and in today's employment shortage of persons equipped to handle this sort of task at a reasonable hourly or billing rate. Current methods of data entry involve manual viewing of source documents from which data is recognized by a user and separately entered by the user into a form or database and/or identified as a particular type or field of data. In this process a peer reviewer may acquire the documents and review them before confirming that the data entered into a database or derivative document accurately reflects the data derived from the source documents manually entered by the user.
Products for converting “hard” documents into “soft” electronic form(s) or imaged documents, such as scanners, and software for extracting or reading data from such imaged documents, e.g., ScanSoft and Adobe Acrobat™, exist but are limited. There also exist products, such as Thomson Reuters Corporation's CS Professional Suite of software products, including Practice CS™, UltraTax CS™, Accountant's Gateway™ and FileCabinet CS™, each of which may be integrated together and with other applications, such as Microsoft® Office suite of products. Such systems may be used to translate, read and transmit data across a computer network from computer station to station. In particular, such applications allow users within a professional services firm, e.g., an accounting firm, to share information and documents with client computer systems and users and other third parties.
What is needed is a method and system for effectively bridging the divide between source documentation and the entry and collection of data for use in work product, submissions, filings, data processing systems, databases, and other end and intermediate purposes. In particular, a system is needed for accurately collecting tax related information from source documents and accurately entering such data in a usable fashion into systems, such as tax preparation systems, for completing and preparing tax submissions such as income tax returns.